Melco Resorts & Entertainment subsidiary Studio City International Holdings Limited (SCIHL) has been granted another extension to the government-imposed deadline to complete development of Phase 2 of its Cotai integrated resort, Studio City.
The company revealed via a New York Stock Exchange filing that it has been given another six months to complete Phase 2, with the deadline extended from 27 December 2022 until 30 June 2023. Studio City was last year granted a seven-month extension from a previous 27 May deadline.
This latest extension comes just days after Melco said it remains on track to open Studio City Phase 2 by December, with development “progressing”.
Coming at a cost of US$1.3 billion, Phase 2 is designed by Zaha Hadid Architects and is planned to feature a “modern interpretation of the rich detailing, bold geometries and craftsmanship of the Art Deco period” with non-gaming facilities including one of Asia’s largest indoor and outdoor water parks, a six-screen Cineplex comprising two regular houses and four VIP suites, as well as a state-of-the-art MICE space.
Melco‘s Chief Operating Officer – Macau Resorts, David Sisk, also stated during the topping off ceremony late last year that new gaming space to be built into the development would target the premium segment, providing a higher-end experience than is currently available at the Cotai integrated resort. The gaming space is planned to cover around 2,300 square meters of the expansion project’s total 250,000 square meters in total gross floor area.
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